| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Neutral | Buy |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇒ | ⇒ | ⇒ |
The New Zealand Dollar has surged by 132 pips or 1.92% against the Japanese Yen since this week's trading sessions. The exchange rate tested the upper line of a descending channel pattern on Thursday.
If the channel pattern holds, bearish traders could pressure the NZD/JPY currency pair lower during next week's trading sessions. The potential target for bears would be near the 69.00 area.
However, if the currency exchange rate breaks the descending channel pattern, a surge towards the 71.00 level could be expected during the following trading sessions.